NEW DELHI: Forget equities and other investment options, the world is now in a mad rush for gold coins. If reports emerging from all corners are any indication, gold coins have witnessed a surge in demand following the global recession.
According to analysts, investors are set to make a dash for gold coins now because of the slowdown.
According to a gold coin dealer in US, he has witnessed a sharp increase in people purchasing gold as a result of the economic recession.
David Bernhardt of Engle’s Coin Shop in Indianapolis told TV channels that more customers have been buying $950 US Mint gold bullion coins in a bid to diversify their investments.
Many people in Indiana are putting their money into gold rather than stocks and bonds.
Data from the US Mint indicated that almost 1.2 million gold coins were sold last year, nearly triple the number purchased in 2007.
The mint reported last autumn that supplies of many gold coins were depleted as a result of an upsurge in demand.
Meanwhile, Royal Canadian Mint has launched its first gold coin designs for 2009, including a coin commemorating the opening of Canada’s first commercial coal mine in Port Morien, Cape Breton in 1720 and the tenth anniversary of Nunavut, the country’s newest territory.
Wednesday, 14 January 2009
Commodity On Line
World in mad rush for Gold coins
2009-01-14 13:05:00
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